MAP Market Planning 2 summary

Name the 6 steps of the decision-making process!

Antwoord: 1. Problem recognition 2. Information search 3. Information evaluation 5. Decision 6. Post-purchase evaluation

What is problem recognition?

Antwoord: -Psychological need -Marketer brings a problem to customer attention

What is Information search?

Antwoord: -Controlled by marketer -Word of mouth

What is information evaluation?

Antwoord: -Objective: price, specification, service -Subjective: status, fit with self-image, trust of supplier

What is post-purchase evaluation?

Antwoord: Did the product live up expectations? Cognitive dissonance: Customer tries to balance the choice made against the doubts still held

Name the 3 buying situations!

Antwoord: -Routine problem solving: Regular basis (FMCG), low risk/price/involvement -Limited problem solving: Less frequently + involves more decision-making/ moderate expensive -Extended problem solving: serious investment of money, time , effort --> high risk (LT commitments e.g. car, house)

What is the significance of buying situations?

Antwoord: It implicates how and what to communicate by the manufactures and where and how to distribute.

Name the 5 environmental influences!

Antwoord: -Sociocultural -Technological -Economic -Competitive -Political/regulatory

What are sociocultural influences?

Antwoord: Influenced both by current trends in the society and in various social groups. Recently environmental friendly products.

What are technological influences?

Antwoord: Database technology creates almost personal relationships. Personalized offerings: expect raise in quality, product, communication and service.